Ousted WPP CEO Martin Sorrell frets that there’s no one “looking out” for the ad/PR combine in which he remains a major shareholder.
The WPP founder criticized his old firm’s decision to sell Globant digital marketing operation as “bordering on negligent,” during his interview with The Sunday Times (London) of Sept. 30.
Commenting on WPP’s nearly 20 percent stock price during the past 12 months, Sorrell said the share price “is not doing well for all sorts of reasons. I’m not sure, to be blunt that what is being done is necessarily the right thing.”
Sorrell pointed out that founders have different attitudes to corporate managers. “Founders have a personal commitment to the company they founded, which is very difficult to replicate,” he told the paper.
The 73-year-old executive, who is plotting a comeback via the S4 Capital corporate shell, exited WPP following a probe into his personal behavior.
He was deemed a “good leaver.”